Abstract

This paper examined expected retirement age cohorts as a main determinant to financial planning preparation in Malaysia. A total of 600 questionnaires were distributed with a 55.0% return rate. Five hypotheses were analysed using hierarchical and stepwise regression analysis. The results revealed that expected retirement age cohort variables made significant contribution to financial planning preparation as well as personal orientation towards retirement planning, particularly the younger age cohort. Expected retirement age do affect personal orientation towards retirement planning with the confidence level making a significant impact. Current financial resources do have a strong positive impact on consumption for all age cohorts. On the other hand, no significant effect was found between expected retirement age cohort and current financial resources but older age cohorts were relatively more significant predictors.

Key words: Retirement age, financial resources, financial planning.